Find the best remortgage deal on the market today.

Are you thinking about remortgaging? Whether you want to switch to a new provider before your current rate ends or find a better rate, we’re here to help you learn everything you need to know about remortgages and how a remortgage broker can help.

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Mark Y
Mark Y
2023-12-11
I can’t recommend enough! Made the process easy, was always willing to explore every option and helped me arrive at the right product for me. Thanks again
Nick Kane
Nick Kane
2023-12-08
Jonathan is always extremely helpful and jumped onto this request asap and secured a great deal for me which I was very happy with.
Debbie Rich
Debbie Rich
2023-12-05
Jonathan is absolutely fantastic, he explains everything very clearly and always makes my remortgaging process easy, swift and affordable. He knows the market inside out. It’s a pleasure to work with him.
Eve Penford
Eve Penford
2023-09-07
Jonathan was a great help when I needed to get a UK mortgage after living for years overseas. He listened to me to determine exactly what options would be best for me, found me a great rate, and his attention to detail meant that everything went very smoothly. Would recommend!
Isabel Shave
Isabel Shave
2023-07-20
Jonathan answered all the questions I had regarding my mortgage promptly and in depth. I would definitely recommend him to anyone needing help with buying their new home.
Luke Rogers
Luke Rogers
2023-06-12
Jonathan is the consummate professional. We have worked with him on 3 occasions and each time he took the time to explain our options and the relative pros and cons. He has helped us save money and manage risk and truly a person we have come to trust. He has supported my wife's family for many years and we will continue to work with him as long as he is working in the mortgage industry. If you are looking for sound advice and efficient management of changes needed I can't recommend Jonathan and Ayla too highly.
David Crook
David Crook
2023-05-04
Really enjoy working with Jonathan to get to the best place for our mortgage. We agree on all of the parameters for dipping in and out of fixed rate options.
Neil Singh
Neil Singh
2023-04-04
Jonathan was very professional and our remortgage came through bang on time with no fuss or problems. I am happy to recommend Ayla Morgages.
Jane Fowke
Jane Fowke
2023-03-17
I can wholeheartedly recommend Jonathan at Ayla Mortgages. He has always given me wise advice and when we came to needing to secure a mortgage deal the week that over 800 lenders withdrew their rates, he was up at midnight and then first thing the next day, holding on a phone line for several hours, until the deal was confirmed! He made a stressful time as easy for us as it could have been. I will always use him!
Jesus Rodriguez
Jesus Rodriguez
2023-02-03
We have recently had Jonathan help us with buying our first house, and cannot put into words how informative, patient and caring him and his team were throughout the process. I cannot but to HIGHLY Recommend them. Gracias!

What is remortgaging and how does it work?

When remortgaging, you are moving your mortgage from one lender to another. A remortgage broker can help you find a new mortgage to replace the old one. You may decide to remortgage your property if you are coming to the end of your current mortgage rate, planning to borrow more against your property or want to find a better deal than you can get with your current lender.

Remortgaging might be a good idea if:

  • The introductory rate on your existing mortgage is coming to an end and you want to avoid automatically transferring to your lender’s standard variable rate
  • You want to consolidate your debts
  • You need funds for home improvements
  • You want some cash to pay for a large expense such as a wedding
  • Your property has increased in value and you want to move to a lower rate by moving to a lower loan-to-value mortgage
  • Your current lender’s transfer rate is high and remortgaging is a more cost-effective option

 

Remortgaging might not be a good idea if:

  • Your existing mortgage has high early repayment charges
  • You only got your current mortgage within the last six months
  • You are only looking for a small mortgage under £20,000

Why use a remortgage broker like Ayla Mortgages

Save yourself time

With extensive industry experience, we know everything there is to know about mortgages and remortgages. Rather than spending time scouring the mortgage market for the best deal, we will take care of everything for you, from finding the right deal to submitting your application.

Expert financial advice

Not only are we experts in our field, but we also work around your needs and schedule, so you get great advice to suit you.

You’re in safe hands

We’ve many 5-star reviews on reviews.co.uk and Google for our excellent service, so you can rest assured that your remortgage is safe with us.

IT’S SIMPLE WITH US

Our remortgage process

You’ll find remortgaging through Ayla Mortgages quick, easy and hassle-free.

Initial meeting

Once you’ve contacted us, we’ll arrange an appointment for you to speak with a mortgage consultant either in-person, via video chat or over the phone — whatever works best for you. Your remortgage adviser will ask you a few questions to learn about your circumstances. Once they’ve gathered all the information they need, they’ll begin searching for the best remortgage deal for your current and future needs. They’ll then contact you to arrange a follow-up appointment to discuss their recommendations with you.

Decision in Principle

Once your adviser has provided you with their recommendation for a remortgage product and you confirm that you are happy to process, they’ll begin securing your Decision in Principle (DIP). This is the lender’s indication that they’ll loan you the funds subject to the property’s valuation, on the condition that the information you’ve provided is correct.

Remortgage application

When you’ve received your DIP, your mortgage adviser will begin preparing your application for a remortgage. We go through all the paperwork and submit your full mortgage application to the lender on your behalf.

Underwriting and valuation

Underwriting is a process by the lender where they verify all the documents and information in your application. We also arrange for a valuation on the property to ensure there aren’t any significant issues with it. Sometimes a lender may not require a physical valuation but carry out a desktop valuation instead, as the property will have had a valuation and inspection when you initially took out a mortgage.

Mortgage offer

Once the underwriting process and valuation are complete and the lender is happy, they will accept your mortgage application and send an offer to you and your adviser at Ayla Mortgages.

Conveyancing

After accepting the offer from your lender, the conveyancing process begins, where a solicitor will arrange all the legal paperwork.

Completion

Once all the paperwork has been signed, your solicitor will set a date to draw down the new funds to clear the outstanding loan you have with your current lender. If there are any excess funds, they will be given back to you.an

Once you’ve contacted us, we’ll arrange an appointment for you to speak with one of our advisers either in-person, via video chat or over the phone — whatever works best for you. Your remortgage adviser will ask you a few questions to learn about your circumstances. Once they’ve gathered all the information they need, they’ll begin searching for the best remortgage deal for your current and future needs. They’ll then contact you to arrange a follow-up appointment to discuss their recommendations with you.
Once your adviser has provided you with their recommendation for a remortgage product and you confirm that you are happy to process, they’ll begin securing your Decision in Principle (DIP). This is the lender’s indication that they’ll loan you the funds subject to the property’s valuation, on the condition that the information you’ve provided is correct.
When you’ve received your DIP, our advisers will begin preparing your application for a remortgage. We go through all the paperwork and submit your full mortgage application to the lender on your behalf.
Underwriting is a process by the lender where they verify all the documents and information in your application. We also arrange for a valuation on the property to ensure there aren’t any significant issues with it. Sometimes a lender may not require a physical valuation but carry out a desktop valuation instead, as the property will have had a valuation and inspection when you initially took out a mortgage.
Once the underwriting process and valuation are complete and the lender is happy, they will accept your mortgage application and send an offer to you and your adviser at Ayla Mortgages.
After accepting the offer from your lender, the conveyancing process begins, where a solicitor will arrange all the legal paperwork.
Once all the paperwork has been signed, your solicitor will set a date to draw down the new funds to clear the outstanding loan you have with your current lender. If there are any excess funds, they will be given back to you.

The benefits of remortgaging

There are considerable benefits to remortgaging your home, including saving money, staying put, raising cash and more.

Saving money

When you come to the end of your introductory mortgage deal, you’ll automatically be put onto the lender’s standard variable rate. This could be higher than what you were paying with your original rate. Remortgaging can help you make considerable savings.

Avoid having to move home

Funding home improvements to your home by remortgaging rather than moving home can be significantly cheaper.

Opportunity to raise extra cash

If you have debt you want to consolidate or need to pay for a major expense coming up, you can remortgage for a larger amount than the outstanding balance on your remaining mortgage. This can often be cheaper than having to borrow separately from other sources.

Helps you adapt to a change in circumstances

If there’s been a change to your financial situation, you may require a new mortgage that better accommodates your new circumstances. This could be a lower monthly rate or the opportunity to make larger overpayments. Remortgaging is a great way to replace your existing mortgage with one that is more suited to your current requirements.

When you come to the end of your introductory mortgage deal, you’ll automatically be put onto the lender’s standard variable rate. This could be higher than what you were paying with your original rate. Remortgaging can help you make considerable savings.
Funding home improvements to your home by remortgaging rather than moving home can be significantly cheaper.
If you have debt you want to consolidate or need to pay for a major expense coming up, you can remortgage for a larger amount than the outstanding balance on your remaining mortgage. This can often be cheaper than having to borrow separately from other sources.
If there’s been a change to your financial situation, you may require a new mortgage that better accommodates your new circumstances. This could be a lower monthly rate or the opportunity to make larger overpayments. Remortgaging is a great way to replace your existing mortgage with one that is more suited to your current requirements.

 

What fees are involved in remortgaging?

There are certain fees involved in remortgaging a property. These can include lender fees, valuation and conveyancing fees. You may find that your lender will include valuations and conveyancing for free as part of the remortgage deal. The cost of remortgaging will largely depend on how much you want to borrow, the interest rate, the type of mortgage, the length of the mortgage term and any fees you were charged to set it up.

A lender’s product fee can be anything from £0 to £1,499, while valuation fees can vary from £0 to £1,500. Legal fees and costs can range from £0 to £500 plus VAT. If you try to remortgage your property before the end of your introductory deal, you could face an early repayment charge. You can usually remortgage a property up to six months before your current rate ends.

Remortgage FAQs
Here you’ll find comprehensive answers to some commonly asked mortgage questions. If you have a question that isn’t answered here, please contact us and we will be very happy to help you

The two main types of mortgage are a repayment mortgage and an interest-only mortgage. We recommend to book an appointment with Ayla Mortgages to advise on the best lender and product for your remortgage, the mortgage consultant will also be able to advise you on whether a variable rate mortgage or a fixed rate mortgage is right for you.

The remortgaging process can take four to eight weeks, depending on your circumstances. You can help speed up the process by providing relevant and accurate documents when required.
You will need to get your home valued if you switch to a different lender, which could range from an in-person valuation to a desktop one. You won’t require a valuation if you’re transferring to a new mortgage product with your existing lender.
You can remortgage before your introductory deal ends, but you’ll likely have to pay early repayment charges (ERCs), which can be expensive. You can begin arranging a new mortgage up to six months before your current deal ends. If your new mortgage is ready early, your solicitor can wait until the ERC period ends before putting the new mortgage in place.
Your choice of lenders and mortgage products will be limited if you have bad credit, but it largely depends on the extent of your bad credit and how recently it was.
Remortgaging can enable you to pay off your debt by consolidating several debts, such as credit card balances and car loans. Your new mortgage will need to be for a higher amount than what’s outstanding on your current mortgage. This will let you release equity from your home to pay off your debts. While mortgages typically have lower interest rates than most loans, remortgaging to consolidate your debts can mean that you end up paying more overall as they have longer terms, so you will accumulate and pay interest for a longer period. Speak to a specialist mortgage broker to determine whether a remortgage is the right option.
Yes, a remortgage can be an effective way to borrow extra money to pay for improvements to your home. It works by enabling you to borrow more on your new mortgage than what you have remaining on your existing mortgage. With this extra money, you can pay for home improvements. Raising funds in this way will also mean that your entire mortgage will be on the same introductory product rather than some of it being on an advance rate which can be higher. The value of your property may also increase after the improvements are completed.
Yes, you can remortgage to raise funds to buy another property, whether it’s to be used as a buy-to-let, a second home, or a holiday let. The funds from remortgaging can be used as part or all of the deposit for your new property, or if you raise enough funds, you may even be able to buy the property outright. You’ll need to notify the HMRC and your lender about which property will be your primary residence. If you want to release equity from your current home to buy another property and then convert your current home into a buy-to-let, you’ll have to go through the let-to-buy process.

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